U.S. President Donald Trump on Wednesday urged the Federal Reserve to cut interest rates by at least 3 percentage points, saying it would ease the cost of refinancing the national debt.
“Our Fed Rate is AT LEAST 3 Points too high. ‘Too Late’ is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. ‘The hottest Country in the World!’ LOWER THE RATE!!!” Trump wrote on Truth Social.
His remarks came as the Federal Reserve released minutes from its June 17–18 meeting, showing most officials believe a rate cut would likely be appropriate later this year.
The meeting summary said future rate decisions will depend on economic data, the outlook, and potential risks. Officials also noted that inflation related to tariffs may turn out to be temporary or modest.
